THE SAN FRANCISCO HOUSING ACCELERATOR FUND (EIN 010716217) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

TAMAR DORFMAN

Phone

4156636938

Tax Period

2023-07-01 to 2024-06-30

THE SAN FRANCISCO HOUSING ACCELERATOR FUND, founded in 2002, is a mid-sized nonprofit in the Housing & Shelter sector that reported $29.0M in total revenue in fiscal year 2023. Revenue surged 77% from the prior year, signaling strong growth momentum. The organization ran a surplus of $23.3M, a strong 80% operating margin.

Mission

THE SAN FRANCISCO HOUSING ACCELERATOR FUND SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT FOR CALIFORNIA'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,520,098

Program Service Revenue $6,949,772

Investment Income $5,517,130

Other Revenue $0

TOTAL REVENUE $28,987,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,949,334

Fundraising Expenses $245,629

Program Expenses $4,709,507

Other Expenses $3,737,584

TOTAL EXPENSES $5,686,918

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,987,000	$16,346,125	+0.8%
Expenses	$5,686,918	$4,863,365	+0.2%
Net Income	$23,300,082	$11,482,760	+1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$871,565

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA FOSTER	CEO	40.00	Officer	$274,219	$29,022	$303,241
TAMAR DORFMAN	CFO	40.00	Officer	$257,266	$4,476	$261,742
JAN LINDENTHAL-COX	CHIEF INVESTMENT OFFICER	40.00	Officer	$265,878	$40,704	$306,582
JUSTIN CHEN	SENIOR VICE PRESIDENT, LENDING	40.00	Highest	$148,252	$2,917	$151,169
DEVON NEARY	VICE PRESIDENT, LENDING	40.00	Highest	$144,285	$11,097	$155,382
ADHI NAGRAJ	DIRECTOR	1.25	Director	$0	$0	$0
ANAGHA DANDEKAR CLIFFORD	DIRECTOR	1.25	Director	$0	$0	$0
BRIGITT JANDREAU	DIRECTOR	1.25	Director	$0	$0	$0
ERNEST BROWN	DIRECTOR	1.25	Director	$0	$0	$0
LYDIA TAN	BOARD SECRETARY	1.50	Director	$0	$0	$0
MEG SPRIGGS	BOARD PRESIDENT	1.50	Director	$0	$0	$0
NINA HATVANY	DIRECTOR	1.25	Director	$0	$0	$0
PABLO BRAVO	DIRECTOR	1.25	Director	$0	$0	$0
RICH GROSS	DIRECTOR	1.25	Director	$0	$0	$0
TYLER VAN GUNDY	BOARD TREASURER	1.50	Director	$0	$0	$0
TANGERINE BRIGHAM	DIRECTOR	1.25	Director	$0	$0	$0
KATHERINE AUGUST DEWILDE	DIRECTOR	1.25	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$28,987,000	$5,686,918	$231,044,783	$23,300,082
2023	$16,346,125	$4,863,365	$244,673,101	$11,482,760
2022	$23,702,565	$3,864,530	$204,353,715	$19,838,035
2021	$9,003,170	$3,533,490	$152,166,853	$5,469,680
2020	$49,552,806	$4,298,557	$140,706,070	$45,254,249
2019	$21,876,211	$3,858,642	$103,426,809	$18,017,569
2018	$1,913,160	$1,502,244	$40,245,505	$410,916

THE SAN FRANCISCO HOUSING ACCELERATOR FUND